IAG Cargo has reported a 34.4 per cent increase in third quarter revenue compared to the same period last year – up to €405 million.

Total revenue for the current financial year stood at €1.174 million – up 28 per cent compared to the same period last year – which IAG Cargo said reflects a sustained resurgence in the volume of flights offered.

Overall yield for the quarter was down two per cent at constant currency compared to Q3 2020. Sold tonnes were up 42.6 per cent.

Commenting on the quarter, IAG Cargo’s managing director David Shepherd said: “This quarter we have seen momentum build as IAG Cargo, and the global economy, begins to take increasingly confident steps towards a more buoyant future, as recovery from the Covid-19 pandemic continues to gain ground. The team’s resilience and commitment to put our customers first continues, and we are excited to enter into a new and ambitious phase of activity.”

IAG Cargo also reported that it had seen a 24 per cent increase in capacity compared to the previous quarter – a 62.2 per cent increase compared to Q3 2020.

The company said that the increased activity reflects growing levels of global trade, as many economies experience recovery following the Covid-19 pandemic.

Its hubs in Heathrow, Madrid and Dubin have been “pivotal”, IAG Cargo said, in its ability to provide “a fast, efficient and global services, connecting East to West”.